Customer Reviews

The Complete Trading for a Living: The Legendary Approach to Trading with the Companion Study Guide

5 star:		(19)
4 star:		(3)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

I am a forex trader and have been loking for a book that would give me information that not only focused on stock. Being an 80% technical analysis based trader, I really found the book to be useful. It really broke down the various technical indicators I already knew about, and introduced a few I had heard of before but wasn't really familiar with. Also I like the fact that Elder cites other trading books and a few non trading books. This is helpful if you want to know more about a certain topic. I think the books greatest strong point is the study guide. I helps you internalize how different candlestick patterns and other chart patterns, which really helps when you need to make decision quickly and accurately. I recommend this book for beginning traders or seasoned veterans alike. Its principles can be applied to any behicle you can trade with a chart (i.e. stocks, commodities, futures, and forex)

I generally agree with the previous reviews, however there is one major caveat I need to make, which is not necessarily a criticism of the book, but rather the information provided by the website where I purchased it. On Amazon.com, under the "Product Details" section, it lists "Publisher: Wiley (June 1, 2006)", giving one the impression it was originally published in 2006. However, the book itself shows the copyright date as 1993! There is a preface written by Dr. Elder in February 2006 included as part of the Special Edition, which may be where the confusion lies. I don't believe any other updates have been made to the main text. I purchased the book fully believing it was only a year old, and was a bit miffed to see the actual copyright date.

While I feel the technical analysis described in detail by Dr. Elder is still valid, the book shows its age in Chapter 4-Computerized Technical Analysis. One quote states: "A computer helps you process more information". (Really, tell me more about these computers, did you call them?) He also seems a bit archaic when he suggests that you can use pencil and graph paper to calculate and record your own moving averages. How quaint.

Again, this is only a minor distraction from a good, thorough review of technical analysis (and not really Dr. Elder's fault), but for those looking for current, computer-based, short-term-trading strategies, you may wish to buy something more updated, using Dr. Elder's book as more of a general reference.

This book is brilliant. Mr.Elder has a very clear and objective style of thinking and writing. He doesn't want to be a market guru. He reveals that there is no mistery, no magic, no secrets to become a professional trader. Everything is explained and cleared before starting the technical lessons. Individual and mass psychology, technical analysis, indicators, risk management (the best insight of the book).

I rated this 4 stars because I personally believe that Mr. Elder's book Come Into My Trading Room: A Complete Guide to Trading is better than this one. It took some years to him to write it and his on trading method has improved, althought it is still based on the triple-screen (described very deep on TRADING FOR A LIVING).

Hope it can be so useful to you as it is to me. I strongly recommend. It works for all markets.

Great insights. Dr. Elder packs intelligent, useful, and practical nuggets in every page. I like the parallels he puts between trading and psychology. Which is where it all boils down to, if you think about it.

Fast moving. Investigates the critical concepts of trading. Explains clearly the more difficult transactions in a "easy-to-follow" concise manner. Would recommend it for any serious trader.

I am very happy to have bought this book. It opened my eyes in the world of investing in stocks. Only after readind this book I realized how many bad mistakes I have made and they were very costly. Now I am bit more informed in my decision making when I invest in stocks. I have gained a lot in my investing within a short period. I am very thanful to
Dr. Aleander Elder.

if you are entering the financial market. this is the first book you need!!! learning and understanding this books knowledge, i am sure will be fundimental too your success. having the study guide with it only enhances its worth.a must have starting point.

If you have any thoughts of being a trader in today's market, investing the time and energy (and it does take both) to read Dr Elder's books is well worth it. I read them and ended up NOT trading. Yup, after reading the book I realized I wasn't mentally prepared for the discipline required to successfully trade. So the book didn't make me any money. Instead, it probably saved me future losses.

Good reading, helpful info on all aspects of trading. A must for the trading library.

Not too many authors are blessed with the gift of being able to take a complex subject and explain it, in detail - in such a way that it can be easily understood. To me, Dr. Elder has that gift - and he does it with creative, humorous analogies and examples. This would be a good read even if you were not into trading. This book is packed with so much valuable information on the "how's", "why's", "when's", and "when not to's" of trading, as well as the psychology of what it takes to be a winning trader and how emotional trading can lead to disaster. Technical Analysis is covered in such a way, including advanced indicators written by Dr. Elder, that just about anyone could improve their trading skills by reading those chapters. A strategy for money management and protecting your capital is included, as well as how to create a trading system that you are comfortable with - and how to evaluate the effectiveness of that system.

For me, this was not a read once and put it back on the shelf type of book - this book is a "tool" that I will continually use to hone my trading skills.